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Cover: Speakers Jainey Bavishi (left) and Tommy Wells discuss
emerging resiliency solutions for cities and policymakers.
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ULI members, the real estate industry, and city leaders across the
United States are increasingly acknowledging climate risk and
resilience as issues that are core to their business interests and
to the well-being of cities. In response, ULI’s Urban Resilience
program in 2019 hosted its first-ever Resilience Summit, an all-day
event held in conjunction with the 2019 ULI Fall Meeting, to
elevate climate resilience topics and bring members firsthand
expertise about how to take action to better prepare for climate
change impacts.
Climate change is leading to more frequent and intense weather
events, including devastating storms such as 2017’s hurricanes
Harvey, Irma, and Maria, as well as chronic risks such as sea level
rise and extreme heat that can cause significant damage to human
health and property. These risks create complex challenges that put
people, businesses, and property at risk. Failure to address and
mitigate such risks threatens the built environment and economy in
ways that have serious consequences for the quality of life and the
economic vitality of communities.
At the summit, 180 attendees heard from global leaders in the real
estate, land use, and urban policy sectors taking action on climate
change mitigation and adaptation. Their lessons provided
opportunities for ULI members to learn about others’ approaches to
real estate investment, development, and city policy, and to adjust
their own responses. These strategies have the potential not only
to prepare and protect assets and communities from extreme weather
events and chronic threats, but also to build value and create
other social benefits.
After the successful 2019 gathering, ULI looks forward to hosting a
Resilience Summit at the 2020 ULI Fall Meeting in San Francisco.
The event will highlight resilience innovations in the Bay Area,
examine how to further protect communities and investments, and
explore how to better measure climate risk to inform
decision-making for a more resilient future.
Overview: 2019 Resilience Summit
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Takeaways and Trends The Resilience Summit highlighted that the
physical and transition risks arising from climate change are
increasingly influencing investment strategy, design development,
and land use policies in cities across the United States and
internationally. The event’s key takeaways include:
• Acceleration of climate mitigation and adaptation strategies is
essential. From the call-to-action keynote address to the
presentations by industry leaders, the theme emerged that
vulnerability to climate change is not adequately mitigated by
current industry and policy action. ULI members and other leaders
need to do more to recognize the extent of climate risk and engage
in adaptation and mitigation accordingly.
• The business case for resilient real estate continues to develop.
Industry leaders emphasized that resilience is a vital component of
thriving economies. Resilient development can lead to value
creation and co-benefits in certain markets through such factors as
improved tenant retention and safety, avoided losses, operational
efficiencies, and brand development. In the public sector, the
co-benefits of public safety and equitable community development
are a key motivation for many new policies. Resilience projects
undertaken in the context of broader community goals often address
climate risks and enhance the public realm.
• Incorporating more sustainably designed open space and green
space is an emerging best practice incorporated into many leading
new urban developments. Strategically designed open/green spaces
can increase resilience by mitigating the harsh impacts of climate
change—for example, by retaining floodwater to lessen impacts
elsewhere or by providing a cool place of refuge during heat
waves—and by promoting health and community.
• A movement to net zero energy is supporting resilience efforts.
Real estate and city leaders are continuing to emphasize energy
efficiency and renewable energy to reduce greenhouse gas emissions
and to reduce the demand on utility infrastructure. Net-zero-energy
buildings are the current industry best practice.
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Keynote speaker Spencer Glendon discussed impacts that the real
estate industry will face in regards to climate change.
Session Summaries Many speakers at the Resilience Summit
highlighted how climate-resilient development and informed
decision-making can support economically vibrant cities and
healthy, equitable communities. Key discussion items and solutions
are summarized below, and the full agenda is available online at
uli.org/2019resiliencesummit.
Keynote—Climate Risk and Real Estate: Assessing and Recognizing
Vulnerabilities Spencer Glendon, senior fellow at Woods Hole
Research Center, delivered the summit’s keynote address, discussing
real estate challenges in 2019 within the context of climate’s
historical impacts on land use, economies, and communities. Citing
examples and data from Cairo to Detroit to Washington, D.C.,
Glendon reminded attendees that the success and prosperity of
cities around the world is linked to climate stability. He
emphasized the magnitude of climate change impacts as well as the
urgent need for consequential, data-informed action by the real
estate sector. Many attendees highlighted his keynote as a vital
and informative call to action that framed their experience at the
Resilience Summit and Fall Meeting.
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Discussion Panels The summit’s three panels emphasized climate
change solutions leveraged by investors, cities, and policymakers,
and specifically in the Resilience Summit host city, Washington,
D.C.
Emerging Solutions for Investors This panel, moderated by Brian
Swett, Resilience Summit co-chair and cities lead at Arup, focused
on how the industry accounts for climate risk exposure and how
resilient buildings and communities may be valued in investment
decision-making processes. Mary Ludgin, managing director at
Heitman, said the industry is better positioned today to understand
climate-related risk through the use of comprehensive data, models,
and tools, and that investment firms are leveraging these resources
to integrate information from climate analyses in order to balance
riskier real estate portfolios.
Regarding the public sector, Leonard Jones, managing director,
public finance, at Moody’s, discussed how climate shocks are
affecting local governments’ economic health, diversity, and fiscal
strength and are therefore now considered in credit rating scores.
Eric Schlenker, portfolio manager at CalPERS, said his agency has
changed its structure to elevate the importance of sustainable and
resilience investments in real estate.
The speakers expect climate-related impacts as well as actions
taken to be more resilient to be factored into real estate pricing
in the near term.
Resilience Summit attendees engaged with panelists during the day’s
first session, Emerging Solutions for Investors.
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Emerging Solutions for Cities and Policymakers Jeff Hebert,
Resilience Summit co-chair and partner at HR&A, moderated a
panel of city leaders who highlighted that cities are increasingly
implementing comprehensive resilience programs, emphasizing
prepared infrastructure and community empowerment. Specific
solutions presented include resilience development guidelines,
energy performance standards, technical assistance to small
businesses, a policy advisory group of local scientists, a green
bank to support clean energy, expanded energy planning, and support
of infrastructure with co-benefits.
Jainey Bavishi, director at the New York City Mayor’s Office of
Resiliency, emphasized the OneNYC 2050 initiative, a multilayered
resilience strategy with key focus areas of upgrading
infrastructure, empowering residents and businesses, ensuring
science-informed adaptation, and streamlining policies. Teng Chye
Khoo, executive director of the Centre for Liveable Cities and the
Ministry of National Development in Singapore, noted that low-lying
Singapore is leveraging parks as critical flood- mitigation
infrastructure. Tommy Wells, director of Washington, D.C.’s
Department of Energy & Environment, described how the District
is balancing valuable waterfront redevelopment with sea level rise
and flood projections.
Although optimistic about these programs, speakers noted the
challenges of reforming building codes and zoning laws,
retrofitting aging infrastructure, and ensuring equitable solutions
for all residents.
“It was a very good day, with action-provoking, not just
thought-provoking, discussion.” Resilience Summit attendee
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Resilience on D.C.’s Waterfront Uwe Brandes, professor of Urban and
Regional Planning at Georgetown University and advisory board
member for the ULI Center for Sustainability, moderated this panel
on how local experts are reactivating the D.C. waterfront while
enhancing community resilience.
Jim Foster, president of the Anacostia Watershed Society, discussed
that group’s ambitious goals for the Anacostia River; the
importance of clean waterways for residents, visitors, and local
businesses; and how a “watershed approach” to stormwater management
can lead to a heathier, sustainable, and more equitable community.
Vaughn Perry, equitable development manager for 11th Street Bridge
Park, reviewed the equitable development plan his team created for
the anticipated park to ensure that it generates inclusive
development and economic opportunity, especially for residents
living in lower-income, underserved neighborhoods.
Around the bend from the proposed park site is District Wharf, a
3.2 million-square- foot mixed-use development. Matt Steenhoek,
vice president of development at Hoffman & Associates,
described how the development team accounted for sea level rise and
tidal fluctuations in District Wharf’s design and construction,
highlighting the use of green infrastructure and grade elevation.
His team also focused on economic and cultural resilience by
supporting local businesses and creating an ample amount of social
spaces, he said. The group concluded the day with a boat ride to
District Wharf, where participants joined the opening reception of
the ULI Fall Meeting.
“This summit was truly one of my highlights of the ULI conference
in D.C.! The programming was fantastic and the conversations with
other
attendees relevant.”
Concurrent Sessions and Tours Resilience Summit participants chose
among three subject-specific panel discussions and tours.
Climate, Health, and Public Space Solutions The opening panel of
this session discussed how climate change harms human health,
especially for historically marginalized and low-income
communities. Panelists shared replicable solutions from New York
City, including the Gowanus Eco-District and a community health and
racial equality impact study; and Baltimore, where the Fleming Park
restoration and Project Birdhouse are open-space projects designed
to improve the well-being of residents and contribute to social and
racial equity.
The session concluded with a tour of Canal Park, a three-acre
SITES- and LEED Gold–certified space known for its stormwater
capture and reuse, geothermal wells for energy supply, high-albedo
paving, dark-sky lighting, and welcoming recreation and dining
space.
Monica Hobbs Vinluan, senior program officer at the Robert Woods
Johnson Foundation, moderated the session. Panel speakers were
Surili Patel, deputy director of public health policy at the
American Public Health Association; Isaac Hametz, principal and
research director at Mahan Rykiel Associates; and Michelle de la
Uz, executive director of the Fifth Avenue Committee. The tour was
led by Dan Melman,
Speaker Surili Sutaria Patel discussed how climate change affects
human health and prosperity during the Climate, Health, and Public
Space Solutions concurrent session.
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“The various panels gave me new ways discuss climate change and its
impact on real estate with my clients.”
Resilience Summit attendee
vice president of parks and finance, and Grace Aucella, park events
and marketing manager, both from the Capitol Riverfront Business
Improvement District.
Net Zero Hero: Adapt, Mitigate, Decarbonize Session leaders
emphasized that though net zero energy (NZE) is the gold standard
in sustainable building design, it remains difficult to achieve
because of challenges involving permitting, energy storage, and
tenant expectations. Speakers praised the American Geophysical
Union building (a retrofit project and the only NZE building in
D.C.) and recommended the Embodied Carbon in Construction
Calculator (EC3) as a new best-in-class resource.
Attendees toured the nearby DC Water headquarters, a LEED
Platinum–rated building with innovative design elements such as
shaded and tinted windows to optimize natural daylight but avoid
excessive heating of the building, and an advanced heating/cooling
and sewage system that traps heat from sewage for use in building
heating systems.
Craig Applegath, founding principal of DIALOG, moderated the
session. Panel speakers were Yolanda Cole, Resilience Summit
co-chair and senior principal and owner of Hickok Cole; Eric
Duchon, head of sustainability at LaSalle Investment Management;
and Sarah King, sustainability director at Skanska USA Commercial
Development. The tour was led by Sven Shockey, design director, and
Dayton Schroeter, design principal, both of SmithGroup.
Resilient Coastal Development Best Practices Speakers discussed the
tension between the vulnerability and desirability of coastal
areas, focusing on integrating resilient design principles into
coastal neighborhood revitalization projects. Panelists shared
their insights on complying with new city-level resilience
standards in large markets, especially in New York City and
Washington, D.C.
Participants toured D.C.’s newest coastal district-scale project,
Buzzard Point, learning how the project team partnered with the
District government and the National Park Service on creating a
dynamic waterfront park space that protects the new development
from flooding, as well as on other mitigation and adaptation
strategies.
Speakers on the panel were Jack Smith, chair of the ULI Coastal
Forum and partner at Nelson Mullins; Chris Shaheen, program
manager, public spaces, at the Washington, D.C., Office of
Planning; and Jay Valgora, founder and principal at Studio V
Architecture. Representatives from Douglas Development, Urban
Alchemy, and Antunovich Associates led the tour.
Participants learned more about Washington, D.C.’s coastal
revitalization projects from speaker Dan Melman.
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Acknowledgments and Sponsorship
ULI is grateful for the generous support for the 2019 Resilience
Summit provided by the below organizations and individuals: Walton
Family Foundation, Arup, Randall Lewis (ULI trustee), Smithgroup,
BentallGreenOak, HR&A, Milliman, Nelson Mullins, Hickok Cole,
and ZOM Living.
ULI would also like to thank the ULI members on the Host Committee
who contributed their time and expertise to shaping the event.
Committee co-chairs were Yolanda Cole, senior principal at Hickok
Cole; Jeff Herbert, partner at HR&A Advisors; and Brian Swett,
director of cities at Arup.
To learn more about future events, including the Resilience Summit
in 2020, reach out to
[email protected].
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